Our Investment in Glofox
In case you hadn’t noticed, gyms are changing. The traditional turn-up-and-work-out model, with long term memberships is far from over, but a new boutique breed is emerging, changing the face of fitness as it does so. This new model invites customers to buy packs of classes of specific, often high-tech activities such as spinning or circuit training, without the burden of a long term commitment. It brings a new experience of group involvement and personal flexibility which people seem to love. Traditional membership gyms are growing at 5%, but the boutique crowd is lifting a bulging 25%.
The business
Enter Glofox. Any boutique gym or fitness studio requires a full stack software management platform and Glofox provides it. In order to succeed, studios must deliver a premium experience with deep customer engagement on limited resources. Many of these gyms are small, single-outlet operations having to overcome the flexible nature, or complete absence, of their customers’ contracts: retention and engagement are the magic ingredients Glofox can supply.
Not all boutique gyms are small however. Last year the fastest-growing fitness franchise ever, F45 Studios, based in Australia, numbering 1,500 outlets around the world, chose Glofox as their global provider.
The People
The team is led by Conor O’Loughlin who co-founded the company with Anthony Kelly, CCO, and Finn Hegarty, CTO. Not many CEOs can describe themselves as a Rugby professional computer scientist, but Conor spent nine years playing scrum half at professional level, alongside his business and tech qualifications. He also carries the title of Ireland’s Best Entrepreneur 2018. His team brings a breadth of experience and maturity beyond their years – which has been essential, given Glofox is now stretched over three continents. Following the F45 win, Anthony, also the co-founder of WellFest, Ireland’s largest annual health and wellness festival, relocated to Sydney and Conor himself has been commuting between the Dublin HQ and the US West Coast where the significant growth opportunities for the business reside. Meanwhile Finn holds t
An entrepreneurial ethos
Boutique gyms are very much the offspring of the entrepreneurial spirit. Many are small, but growing, dynamic and innovative. Glofox’s ability to give other founders the tools to expand their businesses has now become mission-critical to Conor and his team. Customer Relationship Management (CRM) is the corner stone of the Glofox product and class-based gyms live and die by it. Without seamless tech engagement, customers can easily drift.
The boutique gym market, whilst booming, is fragmented and under-served. Glofox is now in position to do what great entrepreneurs do best: identify an opportunity, then meet the need in the best and most lasting way possible.
